At a recent meeting of Transition Town Reading (U.K.), we discussed the prevailing low oil price, and the group asked me to put together some salient points on the subject, set within the context of whether or not we can now dismiss peak oil...
Articles: unconventional oil production (6)
Eventually, production must go down: there will still be oil that could be, theoretically, extracted, but that we won't be able to afford to extract. This is the essence of the concept of depletion.
The estimate of three years of easily affordable driving depends primarily on how long the current fracking boom, which is holding down the global oil price, can be sustained.
The news media continue to chant that “peak oil is dead” and see the U.S. shale oil miracle as a sustainable turn of events, not a term-limited booster.
There is no way out of the Catch 22 within the growth economy model.
Despite its serious tone, The Energy of Nations: Risk Blindness and the Road to Renaissance, published by the reputable academic publisher Routledge, makes a compelling and ultimately hopeful case for the prospects of transitioning to a clean energy system in tandem with a new form of …